Talks for the UK to join a €140bn EU defence fund have collapsed after London declined to pay the demanded fees. The EU ambassadors rejected the UK’s offer of several hundred million euros, as Brussels had set a €2bn cost for participation. The fund aims to enhance European defence spending through a loan guarantee scheme. Despite the breakdown, the UK can still benefit, as it may collaborate with EU countries on up to 35% of the rearmament fund involving UK defence companies.
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